(As of January 1, 2019)
General Negotiable Monetary Lease Terms
Lease Terms Available: |
One to Ten Years | ||||||||||
Monthly Minimum Rent: |
$2.50 to $3.85 per square foot | ||||||||||
Percentage Rent: |
6% to 9% | ||||||||||
How percentage rent works:Example:
Tenant leases a 2,000 square foot store; pays minimum rent of $5,900 per month ($2.95 per square foot x 2,000 square feet = $5,900 per month). Tenant’s lease has a percentage rate of 8%. The Tenant’s “natural sales break point” is $73,750 per month ($5,900 divided by 8% = $73,750).
Tenant’s sales in a month were $75,000; therefore, to calculate Percentage Rent: |
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Lease Deposit: |
Equal to approximately Two Months of Monthly Minimum Rent | ||||||||||
CAM: |
Tenant to pay fixed Common Area maintenance, property taxes and insurance which is currently billed at a rate of 75¢ per square foot per month with annual increases (non-negotiable obligation). | ||||||||||
Example: 2,000 square feet x 75¢ per month = $1,500 per Month | |||||||||||
Promotional Fund Dues: |
$2.50 to $3.50 per square foot per year payable monthly | ||||||||||
Example: 2,000 square feet x $3.00 = $6,000 ÷ 12 months = $500 Per Month for Promo Dues |
All other lease terms will be addressed in our Lease Form.